Goldman Sachs is already raising its 2024 stock market forecast, and the new year isn't even here yet.
The S & P 500 rallied 5% in the past month to already meet Kostin's original 2024 forecast of 4,700 for the new year that he gave back in November .
"Lifting our 12-month S & P 500 target to 5100 as inflation falls, the Fed turns dovish, and real yields plunge," wrote Kostin in a note Friday.
The 10-year Treasury yield, which scared equity investors by rising above 5% back in October, has tumbled to 3.9%.
According to Goldman, the typical member of this basket will return four times as much as the median S & P 500 member but with the same level of volatility.
Persons:
Goldman Sachs, David Kostin, Goldman
Organizations:
Fed, Federal Reserve, Treasury